Podcast
Questions and Answers
What is the inverse of average token velocity?
What is the inverse of average token velocity?
Average holding time.
According to Dutch economists von Oordt and Bolt, what are the three major factors that the value of virtual currencies consists of?
According to Dutch economists von Oordt and Bolt, what are the three major factors that the value of virtual currencies consists of?
- The utility of the virtual currency to make payments.
- The decision of forward-looking speculators to regulate the supply of virtual currency.
- The elements that drive user adoption and merchant acceptance of a virtual currency.
- All of the above. (correct)
If the token is used to exchange more goods and services valued in dollars, the token is also more valuable in terms of dollars.
If the token is used to exchange more goods and services valued in dollars, the token is also more valuable in terms of dollars.
True (A)
What is the potential result of rational token holders expecting future returns from a position in BAT?
What is the potential result of rational token holders expecting future returns from a position in BAT?
What is Samani's definition of Velocity?
What is Samani's definition of Velocity?
Samani believes that burning tokens will reduce velocity.
Samani believes that burning tokens will reduce velocity.
What are people more inclined to do when money goes up in value?
What are people more inclined to do when money goes up in value?
Economics as a field of thought is occasionally useful.
Economics as a field of thought is occasionally useful.
The confusion over token velocity and its "influence" on token exchange rate is the result of numerous [blank] economic ideas.
The confusion over token velocity and its "influence" on token exchange rate is the result of numerous [blank] economic ideas.
The right hand side of the equation is the ______ output of the token economy converted to dollars.
The right hand side of the equation is the ______ output of the token economy converted to dollars.
Flashcards
السرعة الرمزية
السرعة الرمزية
عدد المرات التي تتداول فيها الوحدة النقدية يوميًا.
معادلة فيشر للصرف
معادلة فيشر للصرف
معادلة تربط بين المعروض النقدي وسرعة النقود والمستوى العام للأسعار وحجم المعاملات.
نموذج السوق الثابت
نموذج السوق الثابت
نموذج اقتصادي يفترض استقرار المعاملات ونهجًا ثابتًا للاقتصاد.
غموض التعريفات
غموض التعريفات
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الضغط على الأسعار
الضغط على الأسعار
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نظرية عرض النقود
نظرية عرض النقود
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التحليل الزمني
التحليل الزمني
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اقصاء الرموز
اقصاء الرموز
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السماحية المحدودة
السماحية المحدودة
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العملة المركزية
العملة المركزية
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التحكم المركزي
التحكم المركزي
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تحفيز الاقتصاد
تحفيز الاقتصاد
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التحليل المفاهيمي
التحليل المفاهيمي
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تحقيق المعاملات
تحقيق المعاملات
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النموذج الاقتصادي
النموذج الاقتصادي
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شبكات العملات
شبكات العملات
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المعروض النقدي
المعروض النقدي
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التنبؤ السعري
التنبؤ السعري
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التوزيع الغير متناسق
التوزيع الغير متناسق
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التحليلات النقدية
التحليلات النقدية
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التحويلات الاقتصادية
التحويلات الاقتصادية
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تحليل السوق
تحليل السوق
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الرقابة الحكومية
الرقابة الحكومية
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تقلب الأسعار
تقلب الأسعار
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نموذج السعر المستقبلي
نموذج السعر المستقبلي
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الرمز وفي المستقبل
الرمز وفي المستقبل
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سوق الرموز
سوق الرموز
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خطط الاستثمار
خطط الاستثمار
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استراتيجيات المال
استراتيجيات المال
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Study Notes
Token Economics
- The assertion that token velocity affects exchange rates is false.
- Token velocity is not a controllable extrinsic factor, nor does it naturally impact token exchange rates.
- There are problematic heuristics for evaluating token-related economic ideas.
Contents
-
Economics in general:
- Economic models are tools for reasoning; not for perfect predictions.
- Be wary of economists using complex symbols or violating fundamental economic principles.
-
Addressing "On Medium of Exchange Tokens":
- "On Medium of Exchange Tokens" (by Vitalik Buterin) makes numerous errors and misunderstandings.
- The traditional macroeconomic equation MV = PT has incorrect definitions and units.
-
Sanity Checks:
- Misinterpretations or flawed logic in blog posts about token economics can be safely ignored.
- Consideration of simple examples (like a desert island economy using seashells) can clarify relationships.
-
Review of BAT Price Stability Statement:
- BAT's price stability is argued to be tied to its utility for transactions, the decisions of market participants, and factors affecting user/merchant adoption.
-
Additional insights discussed:
- Proper definitions for important concepts are critical when discussing token economics.
- The quantity of tokens is controllable, but economic output is outside the control of central planners.
- The exchange rate is a market-determined value and is influenced by various factors.
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